Legado Capital (Legado) is pleased to announce the successful closing of the acquisition of Kivuto Solutions Inc. (Kivuto), along with a group of investors, including the lead investor, Roynat Equity Partners. (Innovacorp was a founding investor in Kivuto, then e-Academy.)

Founded in 1997 by Ram Raju, Kivuto was established to simplify the management and distribution of software in higher education. Today, the company’s award-winning platform powers OnTheHub, a network of custom school-branded web stores that provides students with discounted academic software and Texidium, an end-to-end eBook adoption, delivery and reader solution.

For the past two decades, Kivuto has worked with leading software publishers to develop academic programs that empower students and provide them with the tools and skills they need to be successful when they reach the workforce. These programs are designed to give students and faculty low- to no-cost access to top-tier products provided by publishers.

“Legado is committed to working with its partners and executing on a strategy that will see Kivuto continue its growth globally,” said Carlos Meza, managing partner of Legado Capital.

“Roynat Equity Partners is excited to partner with Legado and support a company that has established itself in the technology and education sectors like Kivuto and continues to exhibit significant growth opportunities,” said Paul Angelopoulos, director of Roynat Equity Partners.

“Kivuto has built a great team of professionals that has driven much of the company’s success over the years and we’re thrilled to be a part of this world-class organization,” said Jeff Blacklock, managing partner of Legado Capital.

Blakes, Cassels & Graydon LLP served as legal counsel to the institutional investor group and Stikeman Elliott LLP served as legal counsel to Legado Capital in connection with the transaction.

About Roynat Equity Partners
Roynat Equity Partners facilitates growth and creates wealth in established mid-market private companies by providing patient capital, advice and contact networks to Canadian entrepreneurs. With over $300 million in committed capital and offices across Canada, Roynat Equity Partners is dedicated to helping mid-market companies grow and achieve their business goals. Flexible investment structures are tailored to the needs of partners and include common equity, preferred equity, and convertible debt. Roynat Equity Partners is a division of Roynat Inc. which is a wholly owned subsidiary of Scotiabank. For more information, visit

About Legado Capital
Legado Capital is an entrepreneurial investment firm focused on the acquisition and active management of medium-sized growing businesses. Legado was formed with the sole purpose of seeking to make a controlling investment in a stable company with high growth potential. Legado is supported by an unparalleled investor group comprised of institutional and private investors with entrepreneurship and operational experience. Legado's investor group is well spread across North America with operations based in Boston, New York, Chicago, Dallas, San Francisco, Los Angeles, Toronto, Vancouver and Calgary. For more information, visit

About Kivuto Solutions Inc.
Kivuto Solutions is the world’s leading provider of advanced digital distribution and management solutions that enable the secure delivery of digital resources to individuals, businesses, and organizations anywhere in the world. Kivuto simplifies the process of delivering any digital good to any market under virtually any terms and conditions. Over 60,000 academic institutions and departments trust Kivuto to manage and distribute software to their students, faculty and staff. The company distributes software and other digital resources to millions of users in over 195 countries. For more information, visit

Ottawa, Ontario, March 9, 2018